Teachers Retirement System of The State of Kentucky Sells 720 Shares of ITT Inc. (NYSE:ITT)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of ITT Inc. (NYSE:ITT) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,406 shares of the conglomerate’s stock after selling 720 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ITT were worth $3,948,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Select Equity Group L.P. boosted its holdings in shares of ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares in the last quarter. State Street Corp boosted its stake in ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares in the last quarter. Geode Capital Management LLC boosted its stake in ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in ITT by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after purchasing an additional 3,370 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITT. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. TD Cowen upped their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price target on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research started coverage on shares of ITT in a research note on Wednesday. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group upped their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, ITT currently has a consensus rating of “Moderate Buy” and an average price target of $166.75.

ITT Price Performance

NYSE ITT opened at $150.68 on Friday. ITT Inc. has a 52 week low of $113.70 and a 52 week high of $161.13. The firm has a market capitalization of $12.28 billion, a P/E ratio of 25.71, a PEG ratio of 1.99 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $151.18 and a 200-day moving average price of $140.52.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is currently 21.67%.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.